J.C. Penney Introducing Appliances In Three Pilot Markets

J.C. Penney Co. Inc. said it will introduce kitchen and laundry appliances in 22 pilot stores across the San Antonio, San Diego, and Tampa, FL markets starting Feb. 1. Each location will have between 90 and 150 appliance models featured. The company wants to address the needs of growing numbers of millennials diving into the real estate market and the rising number of homeowners who are updating their homes, it said in a Tuesday release. The retailer is designing a shopping experience to target women, which make up 70% of the company's shoppers, J.C. Penney Chief Executive Marvin Ellison said in a statement . "The introduction of major appliances will help us continue to significantly improve sales and gross profit per square foot in our home department," he said. J.C. Penney shares are down 5.8% over the past 12 months. The S&P 500 is down 6.9% for the same period.